Industrial Flex Building with
For Sale
$1,900,000
65 BLODGETT Court, Fond du Lac, WI 54937
Commercial Sale, FOND DU LAC, WI
Property Size22,500 SF
Lot Size5.00 Acres
Price / SF$84.44
Days on Market210
Property Features for 65 BLODGETT Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-1
Elementary school district
Fond du Lac
Middle school district
Fond du Lac
High school district
Fond du Lac
Directions
Main St South to Pioneer, West to Hickory, South to Rolling Meadows Dr, West to Trowbridge
Standard status
Active
APN
FDL-15-17-21-43-504-00
Lot size
5.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14342
Utilities
Sewer type
Public Sewer
Heating system
Ceiling
Water source
Public
Building Details
Year built
1994
Floors in Building
1
Number of units
1
Building materials
Aluminum Siding
Listing Agency:
Adashun Jones, Inc.
(920) 923-4433
Listed By:
Kevin J. Jones · License #5554090
(920) 251-6748
Added: Jan 25
Changed: Aug 21
Last Checked: Aug 23 at 10:06PM
MLS# 50320395
Copyright © 2026 Realtor Association of Northeast Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1994 industrial flex property occupies 5 acres and includes 22,500 square feet of steel- and metal-framed warehouse space, with approximately 1,500 square feet of office area under the same roof. The temperature-controlled facility is heated by 4 industrial furnaces and provides a 16-foot warehouse clearance with a 20-foot peak. Loading features include 1 10-foot overhead door, 2 14-foot overhead doors, and a 9-foot-wide loading dock.
The property is zoned M-1 and served by public water and public sewer, with Phase 3 electric service. Its location provides access to Hwy 151, Hwy 23, and Hwy 41. The 5-acre setting includes parking and room for vehicle maneuvering, with the site layout supporting additional development from front to back.
The property is zoned M-1 and served by public water and public sewer, with Phase 3 electric service. Its location provides access to Hwy 151, Hwy 23, and Hwy 41. The 5-acre setting includes parking and room for vehicle maneuvering, with the site layout supporting additional development from front to back.
Key Highlights
- 22,500 square feet of warehouse space plus approximately 1,500 square feet of office area
- 5‑acre M‑1‑zoned industrial site with parking and vehicle maneuvering area
- Temperature‑controlled warehouse with 4 new industrial furnaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$160,421
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,208,420
$3.2M
Cap Rate 7%
$2,291,729
$2.3M
Cap Rate 9%
$1,782,456
$1.8M
Market Conditions
NOI Build-Up for 22,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$202.5K $9.00/SF
− Vacancy
−$13.8K −$0.61/SF
EGI
$188.7K $8.39/SF
− OpEx
−$28.3K −$1.26/SF
NOI
$160.4K $7.13/SF
Area
Fond du Lac County, WI
Vacancy
6.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,208,420
Cap Rate 7%
$2,291,729
Cap Rate 9%
$1,782,456
Alternative Uses
Best Use
Office B
$3.31M
$2.90M – $3.86M
NOI $231,790 @ 7.0% cap · market cap 12.20%
Second Best
Flex RnD
$2.92M
$2.56M – $3.41M
NOI $204,458 @ 7.0% cap · market cap 10.76%
Theoretical Best
Multifamily LT 5
$21.68M
$18.97M – $25.29M
NOI $1,517,670 @ 7.0% cap · market cap 79.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54937, WI
21,333
Population
9,473
Households
2.3
Avg Household Size
43
Median Age
25%
College-Educated
93%
High-School Grad
120.1 sq mi
ZIP Area
178
Density / Sq Mi
$79,212
Median Household Income
$48,213
Median Earnings
$1,097
Median Rent
$262,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - M-1-zoned flex facility combines temperature-controlled warehouse space, office areas, loading access, and substantial on-site circulation.
Where is this flex space located?
The property is located at 65 BLODGETT Court Fond du Lac, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 22,500 square feet of warehouse space plus approximately 1,500 square feet of office area; 5‑acre M‑1‑zoned industrial site with parking and vehicle maneuvering area; Temperature‑controlled warehouse with 4 new industrial furnaces
